Editing Private finance initiative (section)

===Ending of PFI for new infrastructure projects===
A January 2018 report by the [[National Audit Office (United Kingdom)|National Audit Office]] found that the UK had incurred many billions of pounds in extra costs for no clear benefit through PFIs.<ref name=ft-20180118>{{cite news |url=https://www.ft.com/content/db1b5c66-fba7-11e7-9b32-d7d59aace167 |title=UK finance watchdog exposes lost PFI billions |last1=Mance |first1=Henry |last2=Parker |first2=George |newspaper=Financial Times |url-access=subscription |date=18 January 2018 |access-date=8 April 2024}}</ref><ref name=nao-20180112>{{cite web |url=https://www.nao.org.uk/wp-content/uploads/2018/01/PFI-and-PF2.pdf |title=PFI and PF2 |id=HC 718 |publisher=National Audit Office |date=12 January 2018 |access-date=8 April 2024}}</ref>

In October 2018, the Chancellor, [[Philip Hammond]], announced that the UK Government will no longer use PF2, the current model of Private Finance Initiative, for new infrastructure projects,<ref>{{cite web|url=https://www.gov.uk/government/publications/private-finance-initiative-pfi-and-private-finance-2-pf2-budget-2018-brief|title=Private Finance Initiative (PFI) and Private Finance 2 (PF2): Budget 2018 brief|date=29 October 2018|publisher=HM Treasury|access-date=29 October 2018}}</ref> due to value-for-money considerations and the difficulties caused by the collapse of PFI construction company [[Carillion]].<ref name=guardian-20181029>{{cite news |url=https://www.theguardian.com/uk-news/2018/oct/29/hammond-abolishes-pfi-contracts-for-new-infrastructure-projects |title=Hammond abolishes PFI contracts for new infrastructure projects |last=Davies |first=Rob |newspaper=The Guardian |date=29 October 2018 |access-date=8 April 2024}}</ref>

A Centre of Excellence was established within the [[Department of Health and Social Care]] to improve management of existing PFI contracts in the NHS.<ref>{{cite news |title=UK Chancellor announces end of the Private Finance Initiative ('PFI') |url=https://www.lexology.com/library/detail.aspx?g=85874bfd-d2e8-458f-a6c5-1a249c31e09c |access-date=2 December 2018 |publisher=Lexology |date=5 November 2018}}</ref>